• £200 million non-convertible perpetual green bond transaction, with a 4.125% coupon, equivalent to c.3.2% in Euros, and a call date in June 2024
  • Issued in compliance with Korian Green Bond Framework
  • Investments in environmentally sustainable Healthcare Real Estate properties principally in the UK, with appropriate currency matching
  • Group Real Estate portfolio could reach €4 billion by end 2023

Regulatory News:

Korian (Paris:KORI), Europe’s leading operator of social and healthcare infrastructure, has issued the first unrated non-convertible perpetual green bond transaction in sterling for £200 million with a 4.125% coupon, equivalent to c.3.2% in Euros, with a call date in June 2024.

The transaction will contribute in full to Korian IFRS equity. It is issued in compliance with Korian Green Bond Framework and proceeds will be used to upgrade, acquire and develop healthcare real estate properties principally in the UK with appropriate currency matching.

Korian aims to further increase the share of real estate it owns, especially to its most strategic and valuable assets. Based on the current trend and following Korian’s strategy, the real estate portfolio could reach €4 billion by the end 2023. Such strategy provides Korian with great operational flexibility maximising performance as well as generating extra returns through real estate development or acquisitions.

Korian’s real estate strategy will remain funded through real estate debt (around 50% LTV) and leveraging third party capital including in hybrid format with a view to minimise the amount of capital deployed by Korian into real estate while maintaining operational control.

Such real estate strategy allows Korian to diversify and increase the services it provides as an operator, to capture incremental profitability translating into optimized returns on employed capital, and to maintain a prudent leverage profile.

Next events:

28 June 2021 – Capital Markets Day

29 July 2021 – Half-year results and SFAF audio webcast meeting

About Korian

Korian, the leading European care services group for elderly and fragile people. www.korian.com

Korian has been listed on Euronext Paris Section A since November 2006 and is included in the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap

Euronext ticker: KORI - ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP

INVESTOR RELATIONS

Sarah Mingham VP Investor Relations & Financing sarah.mingham@korian.com Tel: +33 (0)1 55 37 53 55

Carole Alexandre Deputy Head of Investor Relations carole.alexandre@korian.com Tel: +33 (0)7 64 65 22 44

MEDIA CONTACTS

Jean-Marc Plantade Head of Press Relations jean-marc.plantade@korian.fr Tel: +33 (0)7 62 90 32 58

Cyrille Lachèvre Deputy Head of Press Relations cyrille.lachevre@korian.fr Tel: +33 (0)7 61 53 54 86

Marjorie Castoriadis Head of Media Relations marjorie.castoriadis@korian.fr Tel: +33 (0)7 63 59 88 81

Korian Medica (EU:KORI)
Historical Stock Chart
Von Apr 2022 bis Mai 2022 Click Here for more Korian Medica Charts.
Korian Medica (EU:KORI)
Historical Stock Chart
Von Mai 2021 bis Mai 2022 Click Here for more Korian Medica Charts.